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China’s dominance of global gold markets took another key step in April. China is already the largest producer, importer and consumer of gold in the world – an unprecedented treble. The Shanghai Gold Exchange has, it says, ranked as the world’s largest physical gold exchange for nine consecutive years. Now it has an important benchmark for the metal too.
In April, the Shanghai Gold Exchange launched its Shanghai Gold Benchmark Price. SGE chairman Jiao Jinpu says the benchmark has already attracted “strong interest” from commodity exchanges and domestic and international market participants.
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